Masters of Business Administration (MBA) is a post graduate program that, regardless of the specialization, will provide you with conceptual, theoretical and practical training in various aspects of business like economics, operations marketing, basic accounting, corporate finance etc. However, if the student has a bent towards one specific area of management, a specialized MBA can be pursued in that specific facet.
Most MBA programs in India are accredited by AICTE or UGC however many MBA programs also have prestigious international accreditations. For example, the prestigious IIM Calcutta’s programs are accredited by AACSB and AMBA making it the only Indian B-school with both these global accreditations.

The two-year MBA is the most common and most sought after MBA program of most of the Indian B-schools (some exceptions being ISB Hyderabad and Great Lakes, Chennai which are renowned for their one-year programs). While some B-schools offer a Post Graduate Diploma (PGDM) some offer a Masters Degree (MBA). MBA is offered by colleges that are affiliated to a university. All the colleges not affiliated to any university offer a PGDM which is a diploma. However, it doesn’t make any difference whether it’s a diploma or a MBA degree as the recruiters go by the reputation of the B-school and the caliber of the student.

IIMs and XLRI, despite offering a diploma, are two of the most prestigious B-schools of India.